For almost the past 2 years I have been working at an Investment Bank as an Analyst, joining as a graduate. I didn’t know much about it before going into it, but knew that it was respectable and also had some grey areas. (It was also my only job offer so I didn’t have much of a choice). Going in, I know the risks but wanted to see for myself to what extent the interest would play in my role. Alhamdulillah I haven’t had to sell a product that involves an interest rate and I also haven’t had any commission in relation to interest bearing deals. The bank is moving to a period whereby they are focusing more on non loan products, hence the amount of their revenue from interest should decrease, but at the same time even though I have no dealing in selling/collecting interest, I still have doubts in my mind. I spoke to someone close to me who is the son of a mufti, and is someone who I trust greatly. He informed me that he is of the opinion that I haven’t done anything haram and for that reason my income is halal. However, going forward I should look try and find a new job. I have been applying relentlessly to new roles but so far have been unsuccessful. My goal is to leave the bank as soon as a good opportunity comes up whereby I have no doubt over the source of my income. I also did a calculation whereby I took my division’s income from interest and compared it to non interest products, finding a ratio of around 1.1:1, i.e. 51% coming from interest for FY18. I went in with the intention of finding out for myself if banking is haram as it’s made out to be. From what I have found, I feel as if it works on the type of transactions which one works on. My role basically involves typical admin related things such as presentations, taking minutes etc, monitoring transactions etc.
From this, would you say that my income so far has been haram? And if so then what should I do? I am still actively looking for a new role and have been talking to numerous recruiters, but given your status and knowledge I thought another opinion would be good to hear from.